ULI SME 2016 (IFC-37749)

  • Europe and Central Asia
Where the impacts of the investment may be experienced.
  • Uzbekistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 17, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Energy
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 29, 2018

Disclosed by Bank Aug 8, 2016

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Project Description

This project provides Uzbek Leasing International A.O. with funds to finance leasing operations with small and medium-sized enterprises. At least 10% of the loan is earmarked for financing energy efficient leased equipment to SMEs in the country. The project is expected to have development impact in the following areas: 

1. SME access to finance: the Project would provide financing to SMEs that would contribute to the creation of employment and sustainable private sector development.
2. SME access to Energy Efficiency Loans: the Project would stimulate ULI to finance energy efficiency projects of its clients.
3. Financial performance: IFC's project would support improvement of ULI's ROE, EROE.
Corporate Governance: IFC's project would support ULI's Risk Management System improvement.

Investment Description
  • International Finance Corporation (IFC)

Joint Stock Company “Uzbek Leasing International A.O.” (ULI) is a universal leasing company and occupies 4.1% of Uzbek market and focuses mainly on small and medium-sized enterprises.

ULI has been IFC’s repeat client since its foundation in 1996 when IFC invested in 15% of ULI’s capital. In 2002 and in 2008 IFC has committed two senior loans to ULI for a total of US$5.5 million (both were repaid on time) and provided an extensive advisory services package to the Company.

Private Actors

Uzbek Leasing International A.O. was the first international leasing company established in Uzbekistan in 1996 by Malayan Banking Berhad, the National Bank for Foreign Economic Activity of Uzbekistan, EBRD and IFC.

In 2012 Uzbek-Oman Investment Company LLC invested in ULI by buying out IFC’s and EBRD’s stakes. After the recent capital increase in December 2015 the shareholders’ structure of the Company is as follows: Maybank’s stake is 19.7%, NBU owns 41.56% and UzOman owns 38.74%.

Contact Information

Zafar Mustafaev, CEO
Joint Stock Company Uzbek Leasing International A.O.
Office Address: 1 Beshyogoch Street Tashkent, 100066 Uzbekistan
No contact information provided at the time of disclosure. 


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